JP Morgan Chase (Hearts) Detroit

JP Morgan Chase CEO Jamie Dimon parachuted into Detroit on Wednesday to announce a $100 million donation, er, "investment" in Motown. "We are a for-profit institution," Mr. Dimon deadpanned, "and we are making an investment in Detroit." The line elicited guffaws from the crowd of city residents, business owners and politicians who get that Mr. Dimon is making a political payoff to keep regulators at bay.

The $100 million "investment," which will take the form of low-cost loans and...